One drawback to Cap 1 new card rewards

[masscredit]

Cap1 currently has a couple of rewards offers for new cards -

QuickSilver - 

Earn unlimited 1.5% cash back on every purchase, plus a one-time $100 bonus once you spend $500 on purchases within the first 3 months*

Venture - 

Earn unlimited 2X miles per dollar on every purchase. Plus, earn 40,000 bonus miles once you spend $3,000 on purchases within the first 3 months*.

Venture One - 

Earn unlimited 1.25 miles per dollar on every purchase. Plus, earn 20,000 bonus miles once you spend $1,000 on purchases within the first 3 months*.

The drwaback is, the clock starts when your approved for the card. So you lose about a week of spending to obtain those rewards. I think the offers are good, especially the $100.00 bonus. But the clocks should start when the cards are activated. I chatted with a Cap1 rep to confirm this.  

[Anonymous]

I can't think of any issuers that wait until the activation date.

[impactplayer]

Agree, think they are always set up that way. I would think if you are going to spend that much, a week isn't really going to make much difference to you. 

[masscredit]

I didn't know that. I don't have any major purchases planned so I might have to pay a month's bills early to make it to make it to $3K in that timeframe. 

[OmarGB9]

You could always ask for an extension and see if they are willing to cooperate.

[Anonymous]

And losing 7 days out of 90 isn't that bad. Cards with a $3k minimum spend requirement from Citi and Barclaycard (I'm thinking of AA Plat and Arrival) can take longer (like 2-3 weeks often).

[masscredit]

I guess it won't hurt to ask for an extension if needed.  Both of my new cards are on the way so they should be here in a few days.

I've been wanting a drone so this might be a good time to buy one. 

[NRB525]

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@masscredit wrote:

I guess it won't hurt to ask for an extension if needed.  Both of my new cards are on the way so they should be here in a few days.

I've been wanting a drone so this might be a good time to buy one. 

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Congratulations on the new cards, but this is one of the drawbacks of doing an app spree: Stacked Spend Requirements in the same 90 day period

(this is why I don't do app sprees.... it's difficult enough to make one spend bonus at a time)

[it's also why I prefer MC / VISA bonus spend, since I can throw a mortgage payment on there to just get 'er done]

[Gmood1]

Using Plastiq has pulled through for me on several occasions. Just use it on the largest transactions such as mortgage or rent. Those spends are easy to meet with 1 grand or higher transactions knocks chunks out of it.

[Anonymous]

I would love to spend $4500 to get $700 from capital one if I could for sure get all 3 cards under the same 3 inquiries lol.  That would be great and combine them all in 6 months.  For some reason I NEVER see the venture1 pop up in my offers... used to be 4 cards, the qs, venture, v1, and plat, now its always venture and qs. Dunno why I even bother checking...I guess to see if they will ever lower the 17.99 /18.24% rate lol